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COMMUNITY BENEFITS AGREEMENT This Community Benefits Agreement (the “Agreement”) dated as of June 27, 2005 is entered into by and among Atlantic Yards Development Co. LLC, a New York limited liability company, having an office at c/o Forest City Ratner Companies, One Metrotech Center North, Brooklyn, New York 11201 (the “Project Developer”); Brooklyn Arena LLC; a New York limited liability company, having an office at c/o Forest City Ratner Companies, One Metrotech Center North, Brooklyn, New York 11201 (the “Arena Developer”; coflectively, the Arena Developer and the Project Developer, “Developers”), and the following entities also listed on Schedule 1 attached hereto (collectively, the “Coalition” + All-Faith Council of Brooklyn (AFCB); * Association of Community Organizations for Reform Now (ACORN); ‘* Brooklyn United for Innovative Local Development (BUILD); ‘+ Downtown Brooklyn Neighborhood Alliance (DBNA); * Downtown Brooklyn Educational Consortium (DBEC); «First Atlantic Terminal Housing Committee (FATHC); * New York State Association of Minority Contractors (NYSAMC); and © Public Housing Communities (PHC) WITNESSETH: Whereas, the Arena Developer intends to construct a sports arena for the future home of the NBA franchise now known as New Jersey Nets (“Arena”), and the Project Developer intends to construct office, residential and retail buildings (collectively, the “Project”), all on the property focated in Brooklyn, New York as more particularly shown on Exhibit A attached hereto; and ‘Whereas, the Coalition and the Developers seek to maximize the benefits of the Project to residents of Brooklyn, as well as minority and wonten construction, professional and operational workers and business owners and thereby to encourage systemic changes in the traditional ways of doing business on large urban development projects; and Whereas, pursuant to this Agreement the Coalition and the Developers will establish a comprehensive plan of job training programs, hiring initiatives, affordable housing and community facilities at the Project and within the Community for agreed upon mutual benefits; and ‘Whereas, pursuant to this Agreement the Coalition and the Arena Developer will, seek to make the Arena an integral part of the Community by providing Community related activities and facilities. Now, Therefore, for and in consideration of mutual promises herein contained, the parties agree as follows: L DEFINITIONS, As used in this Agreement, the following capitalized terms shall have the following meanings, unless otherwise noted. All definitions include both the singular and plural form. “Affiliate” means: (a) any person that controls, is controlled by or under common control with Forest City Ratner Companies, and (b) any person that owns, constructs or manages any building in the Project, of which Developer or one of its Affiliates as defined in clause (a) is a general partner or managing member. “Affordable Housing” means: housing for various tiers of low, moderate and middle-income families as more particularly described in Section VI hereof. "AMI" means: area median income for the New York primary metropolitan statistical area as determined by the United States Department of Housing and Urban Development from time to time for a household of a given size. “Contractor” means: a prime contractor, subcontractor, or any other construction business entering into a contract related to the construction of the Arena or the Project. “Community” means: the borough of Brooklyn, New York City, inclusive of the Neighboring Community and Surrounding Community, as herein defined. “Development Phases” means: each phase of the Project, including the Arena, to be constructed by the Project Developer and Arena Developer as shown on the Phasing ‘Map attached as Exhibit B hereto, as modified in accordance with Section IIT, Part H. “Low-Income Individual” means: an individual earning, together with the other members of such individual’s household, less than 50% of the AMI for such individual’s household size. “Minority” means: A United States citizen or permanent resident alien who can demonstrate membership in one of the following groups: ‘* Black persons having origins in any of the Black African or Caribbean racial groups;